Online tax filing platform, ClearTax, said the platform has witnessed a 95 per cent year-on-year growth in tax e-filings for fiscal 2017-2018 compared to the previous year.

Nearly 30 lakh tax returns were filed on the portal as of August 31, 2018, it said in a statement, adding that ClearTax expects at least 40 lakh filings to be done through its online portal during the current fiscal ending March 2019.

Salaried individuals made up the majority of filers and increased by a 110 per cent, the company said, and added that the surge in returns continued by persons adopting presumptive income, and filings by business and professionals increased by 196 per cent and 277 per cent respectively.

Archit Gupta, Founder and CEO, ClearTax, said: “Increased focus on income tax, GST regulations and a strong push for tax collection by the government have led more people to comply with the country’s tax laws and this has reflected in the increase in traffic on our platform.”

Besides, alliances with close to 1,000 corporate firms, 15 leading banks and CA partners also helped in the number of e-filers on ClearTax. The company, after scaling up the B2C space, is now looking to focus on the B2B segment with customised solutions for enterprises.

India’s fintech software and services industry was worth Rs 55,000 crore as of 2016 and is set to grow to Rs 96,400 crore by 2020. ClearTax is looking to tap this opportunity by offering customised, scalable solutions that practising tax professionals seek for their clients.

The functional and security benefits such as cloud-based access, real-time business reports and intelligent data handling functions have garnered appreciation from 33,000 CA firms currently using ClearTax products. The platform recorded a 128 per cent increase in the total number of filings through CA partners.

ClearTax aims to extend its enterprise-centric solutions to at least 5 lakh corporate entities and increase the number of CA firms using ClearTax software to 45,000 by the end of FY 2018-19, it added.

The company is also hiring more CAs, engineers, and sales staff to expand beyond cities such as Bengaluru, Mumbai, and New Delhi. The plan is to enter markets such as Surat, Ahmedabad, Chennai, and Hyderabad, among others.

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